This past week, on Thursday, analysts at StockNews.com published articles for the first time that were related to AZZ (NYSE: AZZ).
The recommendation made by the brokerage firm to its customers to “keep” their positions in the shares of the industrial products company was well received.
AZZ (NYSE: AZZ) made the most recent results of its quarterly financial report available to the public on Monday, January 9.
Earnings per share for the quarter were reported to be $0.88 by the manufacturer of industrial equipment, which was $0.05 less than the $0.93 that industry analysts had anticipated seeing.
AZZ had a return on equity of 15.04% and a net margin of 2.46% for its business.
According to the projections of several different analysts, the anticipated revenue for the following quarter could be anywhere from $359.80 million to $373.30 million.
The company reported a profit of $0.85 per share for the same period the year before. Compared to the same quarter in the previous year, the revenue increased by 176.3%.
Profits for AZZ are expected to come in at $4.12 per share this year, according to projections made by sell-side analysts.
NYSE: AZZ shares started the trading day on Thursday for $39.16 each.
During the past year, the price of AZZ has fluctuated significantly, moving from a low of $30.21 to a high of $50.75 at various points.
The beta coefficient for the company is 1.27, and its market cap is currently at $974.89 million.
The price-to-earnings ratio comes in at 37.30, which is negative.
The debt-to-equity ratio is 1.19, the quick ratio is 1.20, and the current ratio is 1.84.
There is 1.19 times as much debt as there is equity. On the fifty-day simple moving average, the stock is currently trading at $41.48, while on the 200-day simple moving average, it is trading at $40.25.
In a separate development, Stifel Nicolaus lowered its recommendation for AZZ stock from “buy” to “hold” and established a price target of $48.00 for the company’s share price. On January 13, the findings of a study were presented to the general public.
Recently, several institutional investors have modified the distribution of their stock holdings within their portfolios to better align their investments with their investment strategies.
During the third quarter, the value of the holdings Vanguard Group INC had made in AZZ increased by 2.4%.
After purchasing an additional 64,091 shares during the most recent quarter, Vanguard Group INC has a total holdings value of $99,276,000.
The company now owns 2,719,130 shares of the stock of the industrial products company, bringing the total value of its holdings to $99,276,000.
During the quarter ending on December 31, T. Rowe Price Investment Management INC added 0.6% more AZZ to its holdings than previously.
After acquiring 14,129 additional shares during the most recent quarter, T. Rowe Price Investment Management INC now holds 2,482,627 in the industrial products business.
The value of these shares on the market currently is $99,802,000. Over the first three months of this year, Dimensional Fund Advisors LP increased its holdings in AZZ by 7.3%.
Dimensional Fund Advisors LP now owns 1,243,000 shares of the stock held by the industrial goods company after purchasing an additional 85,083 shares during the most recent quarter.
There is a value of $59,963,000 attached to these shares.
During the second quarter, State Street Corporation raised the amount of AZZ securities constituting its holdings by 2.2%. State Street Corporation now has 899,185 shares of the industrial products business after purchasing an additional 19,257 shares during the most recent quarter for a total of 899,185 shares.
The value of these shares on the market currently is $36,705,000.
The amount of AZZ that Segall Bryant & Hamill LLC had in its holdings at the end of the third quarter was 2.5% higher than at the end of the second quarter.
After acquiring 22,118 additional shares in the industrial goods company during the most recent quarter, Segall Bryant & Hamill LLC now owns 895,179 shares.
The value of the firm’s entire shareholdings is currently estimated to be $32,681,000.
Institutions own the company’s stock 88.47% of the time, making them the most common shareholders.
AZZ INC provides hot-dip galvanizing and coil coating solutions, which are geared toward serving a wide variety of end markets.
The company is comprised of three distinct divisions, which are referred to as AZZ Infrastructure Solutions, AZZ Precoat Metals, and AZZ Metal Coatings, respectively.
The steel manufacturing industry and other industries can benefit from the hot-dip galvanizing, spin galvanizing, powder coating, anodizing, and plating services offered by the AZZ Metal Coatings company, which has locations all over the United States and Canada.